Everyone, it seems accepts the result of the recent US elections, except the President and half of the GOP. Convinced of his own meritless delusions of fraud and other voting chicanery, he now pursues a policy of obfuscation, denial of service and general spite while mad dog Giuliani and even madder Sidney Powell pursue laughable cases in various courts in the vainglorious expectation that 6 million perfectly legal votes will somehow be annulled/ cancelled and cease to exist. This is not to be, though the only realists in the GOP are keeping their own counsel on the subject, thereby enabling the Presidents' persistent delusions. That's the problem when you believe your own propaganda, it is easy to become confused with reality. Apart from hiding rotten fish behind the radiators of the White house and carving his name on the Resolute desk, soon to be ex president Trump is doing his best to make the transition for "sleepy" Joe as difficult as he can. This includes a tacit refusal to provide more stimulus. He has instructed Steve Munchkin to end funding for various emergency programs to the tune of $438 billion., thereby hampering the incoming Treasury secretary before he/she even walks through the door. This has rightly upset Jerome Powell who has the interest of the US economy as his overarching priority. Unfortunately, the President is unmoved by the needs of the American public as he feels they have betrayed him. Why reward treachery? Trump is known for his heartless ardour when crushing those he deems as unworthy, which in this case is the American people as a whole, overcome as he is with nihilistic zeal.
Playing golf while ignoring a health crisis , at the same time as full denial in the face of outright defeat, does not an effective president make. Indeed, might I venture his very legacy as president and future GOP kingmaker hang very much in the balance, indeed may have been irretrievably lost. Like Trump, lost with nowhere to go. Though he will surely be welcomed in Turkey, Russia, not to mention North Korea.
The markets really want to break higher and gap up to new ATH's but Trumps intransigence, denial (of Covid and the election results) and general spite ( no new stimulus)are causing a state of intermarket bearish divergence, with the SP and Nasdaq refusing to break into new ATHs(all time highs).
I guess we will have to wait until he is forced out come 20th Jan.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk.
The value of shares, ETFs and ETCs bought through a share dealing account, a stocks and shares ISA or a SIPP can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results.
CFD, share dealing and stocks and shares ISA accounts provided by IG Markets Ltd, spread betting provided by IG Index Ltd. IG is a trading name of IG Markets Ltd (a company registered in England and Wales under number 04008957) and IG Index Ltd (a company registered in England and Wales under number 01190902). Registered address at Cannon Bridge House, 25 Dowgate Hill, London EC4R 2YA. Both IG Markets Ltd (Register number 195355) and IG Index Ltd (Register number 114059) are authorised and regulated by the Financial Conduct Authority.
The information on this site is not directed at residents of the United States, Belgium or any particular country outside the UK and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.